Gritstone bio Securities Settlement

The Gritstone bio securities settlement is a $6,000,000 cash fund paid by the liability insurers of former chief executive Andrew R. Allen. Gritstone bio itself is not paying anything and is not a settling party; the company filed for Chapter 11 bankruptcy protection on October 10, 2024. Read this before you file: simply buying GRTS stock inside the March 9, 2023 to April 2, 2024 class period is not enough to get paid. The court-approved plan of allocation assigns a recognized loss of $0.00 to any share sold before March 1, 2024, to any share bought on or after April 2, 2024, and to the roughly 8.3 million shares Gritstone issued in its April 2, 2024 stock offering. You must have held shares through at least one of the two alleged corrective disclosures, on March 1, 2024 or April 2, 2024. Brokerage documentation is required for every transaction you list, and the administrator issues nothing at all if your calculated payment comes to less than $10.00. Claims close November 13, 2026.

Do I Qualify?

You may be eligible if:

• You bought or otherwise acquired publicly traded Gritstone bio (Nasdaq: GRTS) common stock between March 9, 2023 and April 2, 2024, both dates inclusive
• You still held some of those shares on March 1, 2024 or on April 2, 2024 — any share sold before March 1, 2024 has a recognized loss of $0.00 and pays nothing, even though the purchase was inside the class period
• Your shares were not bought on or after April 2, 2024, and were not part of the roughly 8.3 million shares Gritstone issued in its April 2, 2024 offering, which the plan of allocation makes ineligible
• You are claiming on common stock, not on publicly traded option contracts or warrants, which are not eligible securities, and not on stock acquired by exercising, converting or exchanging non-publicly traded securities, which is also ineligible
• You can produce brokerage confirmations, monthly account statements or a broker-authorized statement for every Gritstone transaction and holding you list, including the April 2 to June 28, 2024 look-back period
• Your calculated payment works out to at least $10.00 — the plan of allocation makes no distribution to an authorized claimant whose pro rata share comes to less than that, so small positions can qualify as class members and still receive nothing
• You are not Andrew R. Allen or a member of his immediate family, a Gritstone control person, officer or director during the class period or their immediate family, a Gritstone parent, subsidiary, affiliate, successor or predecessor, an entity Allen controls, a trust settled by or benefiting Allen or his family, or one of his liability insurance carriers

Documentation is mandatory, and there is no documentation-free alternative on this claim form. The Proof of Claim and Release requires genuine and sufficient documentation for every Gritstone common stock transaction and holding you schedule, including transactions in the 90-day look-back period from April 2 through June 28, 2024. Acceptable records are copies of brokerage confirmation slips, monthly brokerage account statements, or an authorized statement from your broker containing the same transaction and holding information. The form warns that failure to supply documentation may result in rejection of the claim, and asks you not to send originals. The claim form does not require an administrator-issued notice ID, so investors who never received a postcard notice can still file using their own brokerage records. The beneficial owner must sign the form, not the broker or the record holder.

What Happened?

The lead plaintiff alleged that former Gritstone bio chief executive Andrew R. Allen made materially false and misleading statements about the company's compliance with current Good Manufacturing Practices, its ability to meet its contract with the Biomedical Advanced Research and Development Authority (BARDA), and the timeline for launching the CORAL Phase 2b clinical trial, and that the GRTS share price fell when the alleged truth emerged on March 1, 2024 and April 2, 2024.

Allen is the only settling defendant, and his liability insurers are funding the entire $6,000,000 payment. Gritstone bio is contributing nothing: the vaccine and immunotherapy developer filed for Chapter 11 bankruptcy protection in Delaware on October 10, 2024, Nasdaq suspended trading in its stock on October 22, 2024, and the shares traded over the counter as GRTSQ until delisting on April 7, 2025.

Allen denies all allegations of fault, liability, wrongdoing and damage and says he acted properly at all times, and the court has not ruled on the merits. The stipulation of settlement is dated May 15, 2026, and Judge Charles R. Breyer entered the order preliminarily approving the settlement and providing for notice on August 5, 2026 in In re Gritstone bio, Inc. Securities Litigation, No. 3:24-cv-03640-CRB, in the U.S. District Court for the Northern District of California.

How to File Your Claim

1. File online through the official Gritstone Securities Litigation page at Strategic Claims Services, or print the Proof of Claim and Release from the long notice and mail it in
2. Online claims are due by 11:59 p.m. Eastern Time on November 13, 2026, and mailed claims must be postmarked no later than November 13, 2026
3. Attach copies of brokerage confirmations, monthly statements or a broker-authorized statement covering every Gritstone common stock transaction and holding you list, including the April 2 to June 28, 2024 look-back period, and do not send original documents
4. The beneficial owner signs the claim form, not the broker or record holder
5. Representative filers submitting for multiple beneficial owners use the electronic filing template posted on the same case page and must also submit a signed paper claim form
6. Requests for exclusion and objections are also due November 13, 2026
7. The administrator is Strategic Claims Services (866-274-4004, info@strategicclaims.net), and the settlement hearing before Judge Charles R. Breyer is set for December 4, 2026 at 10:00 a.m. Pacific Time in San Francisco
8. Visit the official claim form: https://www.strategicclaims.net/case/gritstone/

How Much Will I Actually Get?

Each authorized claimant receives a pro rata share of the net settlement fund, calculated from a court-approved recognized-loss formula. The $6,000,000 headline is the gross fund, not the amount claimants split: attorneys' fees, litigation expenses, notice and administration costs and taxes all come out first. Lead Counsel Pomerantz LLP will ask for fees of up to one-third of the settlement amount, or $2,000,000, plus interest, and separately for reimbursement of litigation expenses of up to $500,000 — that $500,000 ceiling caps only the expense request, not the much larger fee request. Against the lead plaintiff's expert estimate of about 54.9 million allegedly damaged shares, full participation would average roughly $0.11 per damaged share before deductions, and the notice estimates the fee and expense requests alone would average about $0.05 per share. Recognized loss is driven by alleged artificial inflation of $1.94 per share from March 9, 2023 through February 29, 2024 and $1.02 per share from March 1 through April 1, 2024, with each day's inflation capped at that day's closing price, and a PSLRA 90-day look-back cap using an average closing price of $0.82 for shares still held after June 28, 2024. Sales are matched first-in first-out against holdings as of March 8, 2023 and then against class-period purchases, recognized loss on short sales is $0.00, and no distribution is made where the calculation comes to less than $10.00.

Last reviewed: October 3, 2026 | Information verified from court records and official settlement documents.

Frequently Asked Questions